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Rishi Sunak praises 'far-sighted' King Charles on climate change

Britain hosted the last COP26 summit, but it was only earlier this week that Sunak reversed his earlier decision not to go to Egypt himself

Rishi Sunak praises 'far-sighted' King Charles on climate change

British Prime Minister Rishi Sunak on Friday praised King Charles for his far-sighted leadership on tackling climate change as the monarch hosted a reception for politicians and business leaders ahead of the U.N. COP27 summit.

Charles, 73, who has long campaigned on environmental issues, will not himself be attending the summit which begins next week in Egypt, but instead held a reception at Buckingham Palace for more than 200 international figures including U.S. special climate envoy John Kerry.


"His majesty has been working to help find practical solutions to climate change and biodiversity loss for more than 50 years, long before COP1, let alone COP27," Sunak told the gathering.

He thanked him for his "long-standing and far-sighted leadership".

Buckingham Palace said last month it had sought advice from the British government under Sunak's predecessor Liz Truss and it agreed that Charles, who spoke at the opening ceremony of the 2021 summit in Glasgow, would not go to COP27.

Kerry has said his presence in Egypt would have been "very powerful".

On Thursday, Sunak's spokeswoman suggested that if Sunak, who only became prime minister last week, had been in office longer, the king might have gone after all.

Britain hosted the last COP26 summit, but it was only earlier this week that Sunak reversed his earlier decision not to go to Egypt himself and focus on pressing economic issues at home, amid criticism from environmental activists, political opponents and even some in his own party.

"When you look at the challenge before us, it is easy to feel daunted but I believe the agreements we reached in Glasgow are a source of hope for the world," Sunak said.

"If we do not act today, we will risk leaving an ever more desperate inheritance for our children tomorrow."

(Reuters)

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Lakshmi Mittal quits Britain for Switzerland and Dubai over inheritance tax concerns

Highlights

  • Lakshmi Mittal, worth over £15 bn, has moved his tax residence from UK to Switzerland with plans to spend most time in Dubai.
  • Inheritance tax concerns, not income tax, drove the decision of the "King of Steel" to leave after 30 years in Britain.
  • The departure marks another high-profile exit as chancellor Rachel Reeves prepares major tax rises in the coming Budget.
Lakshmi Mittal, one of Britain's wealthiest men, has ended his three-decade association with the UK, relocating his tax residence to Switzerland and planning to base himself in Dubai. The 74-year-old steel magnate, worth approximately £15.5 bn according to the Asian Rich List 2025, is the latest prominent entrepreneur to leave Britain amid Labour's tax reforms targeting the super-rich.

The Indian-born billionaire built his fortune through ArcelorMittal, the world's second-largest steelmaker, in which he and his family hold nearly 40 per cent ownership. Since arriving in London in 1995, Mittal became a prominent figure in British business, acquiring expensive properties including a £57 m mansion on Kensington Palace Gardens known as the "Taj Mittal."

An adviser familiar with Mittal's family plans told The Sunday Times that, inheritance tax was the decisive factor in the decision. "It wasn't the tax on income or capital gains that was the issue, the issue was inheritance tax."

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